May 15, 2015
Andrew Maguire, Bob Hoye & Listener's Q&A
Please listen here:
- The 40 year gold market veteran and whistleblower, strengthens Ted Butler's silver market manipulation case.
- Each ounce of exchange metal is leveraged 100 to 1.
- Yet leverage of only 10 to 1 was required to ignite the Great Crash of 1929.
- Our guest notes that the trading desks of the 6 key bullion banks and the BIS are in collusion, keenly aware of major turning points and culpable for sharing confidential information with associates.
- The huge paper based, naked short position held by the bullion banks exposes them to sizable default risk.
- Expect PMs market manipulation schemes to end in 2015, resulting in markedly improved transparency.
- Bob warns that correlation in the markets does not always imply causation.
- Similarly, false conclusions such as credit expansion equates with economic growth - are at the foundation of faulty central bank policies.
- From 1985-1995, a ten year period was required to double the Fed's balance sheet.
- Next, from 1995-2009, approximately 14 years were required. But by 2009, the
- Fed doubled their balance sheet over night and again in 2012-2013 and still again in 2014.
- What used to require 10-14 years is now happening every other year. Given the unprecedented bailout figure and subsequent credit injections.
- The host proposes the bold idea: did the financial system fail in 2009 only to be held together by substantial CB duct tape?
- In the 1920's the Fed began Open Market Operations for the first time in national history, holding rates artificially low in turn encouraging speculation, culminating with the 1929 stock market crash and Great Depression - a virtual playbook for the current economy.
- Bob says the only thing holding back hyperinflation is the bond / stock market rally, where inflation is destined to eventually find its way to a gold / silver market near you.
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